This module allows you to analyze existing cross correlation between Yobit BeardDollars USD and Yobit ChronosCoin USD. You can compare the effects of market volatilities on Yobit BeardDollars and Yobit ChronosCoin and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Yobit BeardDollars with a short position of Yobit ChronosCoin. See also your portfolio center
. Please also check ongoing floating volatility patterns of Yobit BeardDollars
and Yobit ChronosCoin
Yobit BeardDollars USD vs Yobit ChronosCoin USD
Assuming 30 trading days horizon, Yobit BeardDollars USD is expected to generate 1.25 times more return on investment than Yobit ChronosCoin. However, Yobit BeardDollars is 1.25 times more volatile than Yobit ChronosCoin USD. It trades about 0.18 of its potential returns per unit of risk. Yobit ChronosCoin USD is currently generating about 0.11 per unit of risk. If you would invest 0.30 in Yobit BeardDollars USD on February 16, 2018 and sell it today you would earn a total of 0.21 from holding Yobit BeardDollars USD or generate 70.0% return on investment over 30 days.
|Time Period||1 Month [change]|
Overlapping area represents the amount of risk that can be diversified away by holding Yobit BeardDollars USD and Yobit ChronosCoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit ChronosCoin USD and Yobit BeardDollars is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Yobit BeardDollars USD are associated (or correlated) with Yobit ChronosCoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit ChronosCoin USD has no effect on the direction of Yobit BeardDollars i.e. Yobit BeardDollars and Yobit ChronosCoin go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Yobit BeardDollars USD are ranked lower than 11 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in Yobit ChronosCoin USD are ranked lower than 6 (%) of all global equities and portfolios over the last 30 days.